Seminar to give tips on credit score improvement

Sept. 03--HAMLET -- Richmond Community College's Small Business Center will present a free seminar on Thursday, Sept. 5, on how to increase your credit score.

The free seminar called "How to Increase Your Credit Score to Over 740 Points -- Prepare for a Bank Business Loan" will be held from 6 to 9 p.m. at the Honeycutt Center in Laurinburg.

As of Oct. 1, 2005, every adult in North Carolina has been able to receive a free credit report from each of the three credit-reporting bureaus. This seminar will help you understand these credit reports and how to read them.

A "very good" credit score is now considered to be 740 points or higher. Now more than ever having good credit is important in being able to obtain a loan for your business or to obtain a personal loan. Your credit score is also important in determining the interest rate of your loans, your insurance premiums and deposits required for phone and utility services.

Should you have one credit card or four? Should you pay off your balances every month or carry a balance? Should you carry a credit card even though you have not used it in years? Presenter Bob Moore will answer these questions and more during this free seminar.

"In this three-hour seminar, we will discuss the history of credit scoring, how to read a credit report and what factors are used in calculating your FICO, Beacon, or Vantage score," Moore said. "You will learn the legal tricks credit bureaus do not reveal on how to raise your score simply by the way you use your credit cards, treat inquiries, make your payments and carry balances. Using several proven methods, your credit score could increase by 50 to 100 points or more within 30 days."

To sign up for this seminar on Sept. 5, contact Angineek Gillenwater at 910-410-1848 or [email protected]. This seminar is free and open to the public. Pre-registration is recommended, but walk-ins are welcome.

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